A strategic-planning to-do list for 2011

Nationally, 64% of small-business owners projected that their firms will either meet or exceed both revenue and profit goals for fiscal 2010, up from 37% who anticipated such results in 2009. That's according to the latest survey by Ink from Chase, Chase's business card division, for J.P. Morgan Chase. And in a recent survey, 41% of business owners who belong to Focus.com—an online network for small business owners—said they already increased revenue in 2010 compared with 2009.

Nonetheless, many local entrepreneurs face the issue of how to plan their growth strategy for 2011, given continuing economic uncertainty, questions about the impact of health care reform, and the potential for an altered regulatory climate now that Republicans dominate the House of Representatives.

"Small business owners should take ownership of the things they can control,” advises Scott Albro, founder and chief executive of Focus Inc., which runs Focus.com.

He and other experts have a host of ideas on how you can tackle your planning in 2011 despite the unpredictable business environment.

1) Create a board of advisers.

If you haven’t acted upon the perennial advice to organize a board for your company, now is the time.

Build a group of advisers from a variety of sectors that have stakes in your business (say, a commercial banker, customers from various industries, and members of your channel of distribution), suggests Barb Bridendolph, CEO of Crenshaw Associates, a New York firm that advises executives. Add people who are experienced in running businesses that are a similar size to your own; they should work in related but noncompetitive industry segments, she says.

"Such a board can provide valuable insight on the economy and other factors that could affect your business positively or negatively," says Ms. Bridendolph. "And because they have an expressed interest in your particular business, they will often be far more straightforward and open than other sources."

2) Dig into sales data.

Many small businesses use their accounting software for traditional tasks such as running profit-and-loss statements and figuring out payroll taxes. But few small companies regularly mine the other data packed into such programs, notes Ellen DePasquale, president of New York-based Efficient Office Computing, a software consultancy.

One report to run regularly, she says: sales by customer. Look closely at the trend line for individual accounts. If you see drop-offs, contact customers to find out how you can be helpful to their businesses, she advises.

Also look at individual invoices for each customer, starting with January 2010 and moving forward, to look for purchasing patterns that may suggest spots for potential growth.

"Everyone these days is looking for new business," Ms. DePasquale says. "The ones who will succeed are doing so in creative ways with information they very likely already have on hand."

3) Build a flexible, free-lance workforce.

Experts say that having an on-demand work force is crucial in today's economy if you want to maintain maximum flexibility and save on severance costs, Social Security payouts and unemployment insurance should business turn south.

This kind of work force can be especially helpful for businesses with a strong seasonal element, says Michael Paolucci, CEO of Solvate, an on-demand work force agency based in New York.

"On-demand talent takes the fixed cost of an employee and requisite overhead and turns it into a variable cost,” he points out. “That means businesses can adapt faster to changing market conditions and apply talent to grow their businesses before they are ready to commit to full-time workers.”

It isn’t mandatory to use an agency to find flexible helpers. There are many Web-based job boards that you can use. One source recommended by Focus Inc.’s Mr. Albro: Amazon Mechanical Turk, an online marketplace.

4) Focus on strong local sectors.

Operators of small businesses in telecommunications and finance are more sanguine than others about the future, the Focus.com study showed. Whether your business is in, say, housing construction or whether you're a restaurateur, market yourself to healthy industries, says Mr. Albro.